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			Commercial Letter of Credit - 




A letter from a bank or lending institution that authorizes an account holder to draw drafts within set limits, and requires the repayment of such drafts by the account holder. 













	
	
Related Terms: Commercial Letter of Credit - account | debt | draft | letter of credit | loan |


Unless otherwise indicated, all entries in the LogisticsWorld Logistics Glossary are copyright 1997, Matthew D. Cox, logistics@logisticsworld.com.

 

WWW Virtual Library of Logistics
Ver 4, Sep, 1999, Matthew D. Cox, logistics@logisticsworld.com
Sponsored by LogisticsWorld.
Copyright 1995, 1996, 1997, 1998, 1999 MDC, All rights reserved.